The site, with a plot ratio of 2.1, can be build up to 24 storeys. This works out to about S$1,750 per plot ratio.

CBRE said it will attract developers looking for a site within District 10 and near to Orchard Road and the Central Business District.

It added that developers can choose to build 40 exclusive apartments with an average size of 1,200 sq ft each.

CBRE said all 8 units are owned by a single owner and the sale is not subject to Strata Titles Boards approval.

Tender for Ying Mansions closes on February 23.

Meanwhile, Villa D’Este – a 12-unit development with a gross floor area of 49,000 square feet – has been relaunched for public tender.

The property – approved for “Good Class Bungalows” by the URA – has a reserve price of S$110.6 million, which equates to about S$2,253 per plot ratio.

CBRE said a potential developer can choose to build 13 to 14 exclusive apartments with an average size of 3,500 sq ft each.

It added that “there was keen interest from several developers” when the site was first up for tender in August last year. And with the luxury market having improved since last year, interest is expected to be “very strong”.